Fujimi Incorporated

5384.T · Technology · Semiconductor Equipment & Materials · Valued as of 2026-11-03 · Statements 2026-03-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

903.54M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

683.15M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

530.52M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

705.74M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.69B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.42×

the ratio the screener ranks by

Margin of Safety

-138.9%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 903.54M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)815.15M USD
+②Net Cash Today88.39M USD
+③Growth Value0 USD
=Value903.54M USD

EPV of the Operations (NOPAT over WACC)

815.15M USD

Net cash today

+88.39M USD

Growth Value

0 USD

Value

903.54M USD

①EPV (Earnings Power Value)

815.15M USD

②Net Cash Today

88.39M USD

③Growth Value

0 USD

Market value

Market Cap1.69B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-86.6%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 683.15M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE431.27M USD
+②Equity at Year 15, Today251.88M USD
=Value683.15M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

431.27M USD

②Equity at Year 15, Today

251.88M USD

Market value

Market Cap1.69B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-146.8%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 530.52M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 530.52M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Cash Today

Not in the value

Market value

Market Cap1.69B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-217.8%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 7.97%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.66×Market Risk Premium 6.00%= 8.44%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 28.93M USDPretax Income 86.09M USD= 33.61%

The tax the interest saves.

Interest Expense =EBIT 86.94M USD−Pretax Income 86.09M USD= 845.43K USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 845.43K USDTotal Debt 107.91M USD×(1 − Tax Rate for WACC 33.61%)= 0.52%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 107.91M USDMarket Cap + Total Debt 1.69B USD + 107.91M USD= 6.02%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 93.98%×Cost of Equity 8.44%+Debt Weight 6.02%×Cost of Debt 0.52%= 7.97%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-03-31.

Total Assets 759.65M USD − Total Liabilities 229.13M USD = Book Value Today 530.52M USD

Total Debt 107.91M USD − Cash and Short-Term Investments 196.30M USD = Net Debt Today -88.39M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-0.0%at most 5%passes74,183,256 / 74,183,333
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets2.9%at least -10.0%passes(78.90M USD − 56.73M USD) ÷ 759.65M USD
Price to bookMarket Cap ÷ Book Value Today3.18×at most 3×does not pass1.69B USD ÷ 530.52M USD
Operating marginOperating Income ÷ Revenue19.9%above 10.0%passes86.59M USD ÷ 434.64M USD
Revenue growthRevenue ÷ Revenue a Year Before − 13.9%above 10.0%does not pass434.64M USD / 418.17M USD
Net cash(Cash − Total Debt) ÷ Market Cap5.2%above -30%passes(196.30M USD − 107.91M USD) ÷ 1.69B USD
Operating efficiencyOperating Income ÷ Gross Profit44.3%above 25.0%passes86.59M USD ÷ 195.46M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

3563.56 JPY

Enterprise value

255.08B JPY

the provider's own figure

EV / EBITDA

14.43×

Price / book

3.10×

the provider's book

Price / earnings

29.13×

Return on equity

13.1%

the provider's figure, not this page's

Profit margin

14.6%

Revenue growth

19.1%

Analyst target, mean

4600.60 JPY

Analysts

5

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2023202420252026

Revenue

438.83M339.90M418.17M434.64M

Gross profit

204.31M147.70M183.66M195.46M

Operating income

99.52M54.54M78.82M86.59M

EBITDA

operating income before depreciation and amortisation

114.55M71.19M95.39M101.73M

Pretax income

101.50M57.59M81.96M86.09M

Net income

79.61M42.96M63.08M56.73M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

81.23M44.21M63.76M58.59M

R&D

————
Balance sheet, year end (USD)2023202420252026

Total assets

601.96M548.61M608.21M759.65M

Total liabilities

83.35M68.90M93.76M229.13M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

518.61M479.71M509.26M525.23M

Total debt

——0107.91M

Cash and equivalents

252.04M209.70M186.37M196.30M

Net PP&E

fixed assets after depreciation

111.42M111.29M195.23M320.57M

Working capital

current assets less current liabilities

390.59M347.62M292.08M269.56M
Cash flow (USD)2023202420252026

Operating cash flow

55.44M49.26M86.89M78.90M

Capital expenditure

paid out, so below zero

-13.24M-24.71M-85.93M-139.25M

Depreciation and amortisation

12.99M13.57M13.40M14.80M

Free cash flow

operating cash flow plus capital expenditure

42.20M24.55M956.73K-60.35M